Good News and Bad News About the Federal Budget

[Tarheel]

 

As I understand it the Good News is that the Federal Budget Deficit Fell from $1.84 Billion to $1.58 Billion.  That is due to Chairman Maobama's steadfast and brilliant economic leadership in this mess.  (I thought that was in the 'Trillions' originally?)

But the Bad News is that the 10-Year Federal Budget Deficit projection has Increased from $7.108 Trillion to $9 Trillion.  Now that's ALL Bush's fault.  Chairman Maobama's socialist congress has NO responsibility for this spending at all.  And we're not even counting in that expansive new National Health Care Plan.  (Something tells me we can't afford it.)

Anyway, just wanted to make sure I got that skraight.

This is an excerpt from Reuters.com:

White House: 10-yr deficit now $9 trillion
[August 21st, 2009]
Posted by: Rolfe Winkler

Some breaking news from Reuters about an updated deficit projection:

The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.

The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama’s opponents, who say his spending plans are too expensive in light of budget shortfalls.
...
But the way the news was announced is suspect. There were two deficit projections released this week. The good news — about this year’s deficit projection falling from $1.84 billion to $1.58 billion — was released mid-week.  The bad news — about the 10-yr deficit projection — was dumped late on a Friday evening.
...

Full article:
http://blogs.reuters.com/rolfe-winkler/2009/08/21/white-house-10-yr-deficit-now-9-trillion/

[Pell City Tiger]

This country is fucked. There's no if's, and's, or but's about it.